Asian stocks rally as Anthropic IPO filing lifts AI shares

Anthropic's long-awaited filing for an initial public offering gave a lift to artificial intelligence stocks around the world. Wall Street ended higher on Monday, Oct. 26, and Asian markets rallied on Tuesday. The S&P 500 ↘ 4.41% and Nasdaq Composite had fallen for two straight weeks before Monday. The filing improved sentiment around AI-related shares at the start of a week packed with big-tech earnings and central bank decisions.reuters.com

Chipmakers lead Wall Street

Monday's gains came mostly from semiconductor stocks. The Philadelphia chips index PHLX Semiconductor Index ↘ 12.13% rose 2.8% but was still down 12.2% for the month, Reuters reported. The S&P 500 and Nasdaq each gained less than 1%, and the Dow Jones Industrial Average edged up. CoreWeave ↘ 9.83% recovered from earlier losses. Photonics makers Lumentum ↘ 18.68% and Coherent ↘ 12.98% were among the best performers in the S&P 500. Meta Platforms ↘ 3.96% went the other way, falling after it said it plans to raise up to $95 billion in equity to pay for AI infrastructure.reuters.com

"Today's all about the Anthropic release, so we're back on a little bit of an optimistic tilt," said JP Powers of RWA Wealth Partners. He also warned of a possible "whipsaw" if the week's other releases point in different directions.reuters.com

In Asia on Tuesday, South Korea's Kospi jumped in early trading and Japan's Nikkei 225 also rose. Nasdaq futures moved higher, while European stock futures slipped.centraloregondaily.com

What the filing shows

In its S-1, Anthropic reported first-half 2026 revenue of $16.3 billion, up from $1.2 billion a year earlier. Its net loss was $80.7 billion. Of that, $72.4 billion was an accounting charge tied to the rising value of its convertible notes. The operating loss was much smaller, at $693 million, and operations generated $3.9 billion in cash. The company plans to list on the Nasdaq ↘ 2.62% under the ticker "ANT." Trading could begin as soon as Nov. 16. Media reports have said the offering could value the company at $1.5 trillion to $2 trillion.fortune.com+2

A crowded week

Investors still have a lot to digest this week. More than a third of S&P 500 companies report earnings, including Alphabet ↘ 1.94%, Microsoft ↘ 3.58% and Amazon Amazon.com, Inc. ↘ 2.19%. The Federal Reserve, European Central Bank and Bank of Japan also announce policy decisions. "Investors need confidence that aggressive capex spending reflects durable business needs," said Anthony Saglimbene, chief market strategist at Ameriprise ↘ 3.43%.centraloregondaily.com